Listed by John L. Scott, Inc., Bought with Green Stone Properties, Inc.
NOT LISTED FOR SALE

8507 116th St E Unit 8507 Puyallup, WA 98373

Estimated Value: $602,993 - $689,000

4 Beds
4 Baths
2,160 Sq Ft
$301/Sq Ft Est. Value

Last Sold October 12, 2021

Last sale price $525,000 $243 Per Sq Ft

Est. 24% increase in value since last sale

Current estimated payment $3,959/month

78 Days on Market

Highlights

  • Corner Lot
  • Patio
  • 1-Story Property
  • Woodland Elementary School Rated A-
  • Wall to Wall Carpet

About This Home

As of October 2021

First Time on the market in 42 years!! Incredible investment opportunity to own a duplex in a prime location! Well maintained single level duplex that offers 2 good size bedrooms each and 1.75 bath. Open floor plan with large living room. Beautiful brick wood burning fireplace and good size kitchen. One of the units converted part of the garage into an office, could continue as or change back into a garage. Large corner lot with extra space for parking. Privacy in backyard. A savvy investment for multiple reasons. Great tenants, & superb location, close to freeways, shopping, and entertainment. Please do not disturb tenants.

Last Agent to Sell the Property

Melanie Egan

John L. Scott, Inc. License #124989 Listed on: 06/11/2021

John L. Scott, Inc.

Last Buyer's Agent

Stephen Williams

Green Stone Properties, Inc. License #11164

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1789734

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,045

Year Built

  • Built in 1975

Lot Details

  • 0.28 Acre Lot
  • Corner Lot

Home Design

  • Duplex
  • Brick Exterior Construction
  • Poured Concrete
  • Composition Roof

Interior Spaces

  • 2,160 Sq Ft Home
  • 1-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 3 Parking Spaces
  • 2 Covered Spaces
  • Open Parking

Outdoor Features

  • Patio

Utilities

  • Septic Tank
  • Septic System
  • Cable TV Available

Community Details

  • South Hill Subdivision

Listing and Financial Details

  • Assessor Parcel Number 041908-1-052

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,045

Year Built

Built in 1975

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1975
  • Buyer Agency Compensation: 2
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2160
  • Special Features: None

Interior Features

  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Corner Lot
  • View: No
  • Waterfront: No
  • Exterior Features: Brick
  • Foundation Details: Poured Concrete
  • Structure Type: Duplex

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 3
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Septic Tank
  • Water Source: Public
  • Heating Yn: Yes
  • Utilities: Cable Connected, Septic System, Electric
  • WaterSewerGarbage: 1431

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Puyallup
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 041908-1-052
  • Lot Size Acres: 0.28
  • Lot Size Sq Ft: 12197
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Patio
  • MLSLotSizeSource: realist

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 23
  • LeasedItems: None
  • TotalMonthlyIncome: 1995

Multi Family

  • Gross Scheduled Income: 23940
  • Net Operating Income: 16074
  • Number Of Units Total: 2
  • Insurance Expense: 1011
  • Leasable Area: 2160
  • EnergySource: Electric
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2021
  • Tax Annual Amount: 5045
  • AdditionalTaxIds: 0419081058

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 11, 2021
Closed on
Sep 28, 2021
Sold by
Iverson Rodney W and Iverson Constance B
Bought by
Smith Derric
Seller's Agent
Melanie Egan
John L. Scott, Inc.
Buyer's Agent
Stephen Williams
Green Stone Properties, Inc.
List Price
$550,000
Sold Price
$525,000
Premium/Discount to List
-$25,000
-4.55%
Current Estimated Value
$650,248

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$125,248
Avg. Annual Appreciation
5.52%
Original Mortgage
$515,490
Outstanding Balance
$470,079
Interest Rate
2.8%
Mortgage Type
FHA
Estimated Equity
$180,169
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Smith Derric $525,000 Chicago Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Smith Derric $515,490
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/12/2021 10/12/21 Sold $525,000 -1.9% $243 / Sq Ft
08/28/2021 08/28/21 Pending -- -- --
08/13/2021 08/13/21 Price Changed $535,000 -2.7% $248 / Sq Ft
07/27/2021 07/27/21 Price Changed $550,000 0.0% $255 / Sq Ft
07/27/2021 07/27/21 For Sale $550,000 -1.6% $255 / Sq Ft
07/14/2021 07/14/21 Pending -- -- --
06/11/2021 06/11/21 For Sale $559,000 -- $259 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,975 $577,200 $194,100 $383,100
2024 $5,975 $575,500 $185,500 $390,000
2023 $5,975 $567,800 $190,500 $377,300
2022 $5,462 $546,700 $184,300 $362,400
2021 $5,025 $385,400 $120,400 $265,000
2019 $4,359 $351,400 $105,400 $246,000
2018 $3,977 $332,300 $102,400 $229,900
2017 $3,977 $309,500 $86,700 $222,800
2016 $3,495 $244,500 $70,500 $174,000
2014 $1,627 $214,200 $58,200 $156,000
2013 $1,627 $196,900 $53,600 $143,300
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1789734

Northwest Multiple Listing Service (NWMLS)

APN: 041908-1052